Question & AnswerQ&A (PROCLAMATION NO. 771)
It creates and designates two buildings, known as the Riverbanks Center ICT Building I and II, in Marikina City, as Information Technology Buildings pursuant to Republic Act No. 7916, as amended by Republic Act No. 8748.
Republic Act No. 7916 is known as the Special Economic Zone Act of 1995.
Riverbanks Center ICT Building I contains 5,190 square meters, and Riverbanks Center ICT Building II contains 12,000 square meters.
They are located at the Riverbanks Center, A. Bonifacio Avenue, Barangka, Marikina City, Metro Manila, Philippines.
They are governed by Republic Act No. 7916 as amended, its Implementing Rules and Regulations, and PEZA Board Resolutions Nos. 00-411 (December 29, 2000) and 04-031 (February 17, 2004).
The aggregate land area is 17,343 square meters, more or less.
The Board of Directors of the Philippine Economic Zone Authority (PEZA) recommended the designation.
Lot No. 3-B is a parcel of land described as Lot 3-B of the subdivision plan Psd-00-066714, located in Barangka, Marikina City, bounded by Lot 3-A and Lot 3-C, containing an area of 2,676 square meters based on surveys conducted and approved in 2004.
The boundaries are marked on the ground by PLS Cylindrical Concrete Mohons 15x60 cm, with bearings true, original survey dates from 1910 to 1911, and subdivision or consolidation surveys approved in 2004.
The proclamation officially creates and designates the buildings as Information Technology Buildings, enabling them to benefit from incentives and regulations under the Special Economic Zone Act and PEZA rules.
It was signed by President Gloria Macapagal-Arroyo and attested by Executive Secretary Eduardo R. Ermita.